Find out more about Papaya Global.Com Payroll ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly devoted to handling payments. This offers us with a safe and secure and reputable method of paying to our 10,000 workers worldwide.}
The advanced worldwide payroll management app enhances my payroll procedure, conserving me a significant quantity of time monthly. With its user-friendly interface, I have access to a single control panel that efficiently handles my payroll, EOR, and contractors.
Staff member Website
Staff members have access to an Employee Website where they can view their pay slips, wage and tax declarations and work files. The portal is available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies offer competitive advantages plans to worldwide staff members regardless of the number of employees in the company. The company can set up medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while removing the need to source local advantages service providers in every nation, produce regional accounts and have a minimum variety of employees.
The HR capabilities supplied by Worldwide HR encompass various functions such as keeping track of vacation time, guaranteeing compliance, helping with the process of welcoming brand-new employees and bidding goodbye to departing ones, offering a secure online platform for keeping employees' files, and providing assistance for work permit procedures in case your staff members require assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force diversity, total employment expenses distributed per location, total work costs per cycle and far more.
Globally, I have shown leadership and tactical proficiency in assisting large-scale populations of over 100,000 employees across 170 nations. Presently, I am responsible for managing payroll methods, as discussed by Mark. My role involves handling and establishing external partnerships, supporting Enterprise customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
company to make the time 100 list for many prominent companies on the planet we provide payroll payments and workforce management to all staff member types in over 160 countries I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning good afternoon great night depending upon where you are in the world it's lovely to fulfill you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments industry for over 10 years and particularly dealing with the payroll and payment sector for over 7 years um I was fascinated by the complexity the difficulty in all of the above of
payroll payments and chose to kind of make a real go at that over the last 5 or 6 years where I have actually kind of had a range of different roles on the service provider side and likewise on the supplier side from a payroll perspective so really looking forward to this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply provide everybody another couple of uh well among the 30 seconds or two to join all of us work back to back these days so we'll type of let them do that so it 'd be rather interesting and I can see it going on currently just to hear where everybody is um it's nice to to kind of like see where everybody comes from and I actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's really really gloomy and I want I was elsewhere at this moment in time alright so let's begin our agenda for today is as follows um we are going to be looking at the challenge years of handling Worldwide payroll why business preserve different
Virtual payroll accounts are an option to standard savings account for managing payroll payments. This is particularly beneficial for global companies with dispersed and remote workforces, as it streamlines the intricate process of cross-border payments. Instead of keeping different bank accounts for payroll in different nations, virtual accounts and digital wallets use a more structured solution. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are becoming a tactical property for payroll executives. We will likewise supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively securely and on time during this webinar we'll walk you through the international benefits and drawbacks of a payroll wallet versus a payroll savings account how companies precisely anticipate their payroll costs to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be difficult in adequate in one nation however when you're doing it globally it's next level and Beyond it ends up being complex for a variety of factors most importantly policies compliance data security and banking guidelines then there are the large numbers they add further intricacy the international Workforce is presently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing worldwide in the conventional payroll model there's frequently a frustrating variety of different systems resulting in time-consuming manual procedures and silos the variety of Combinations could be non-existent in large amounts and or really really standard there's no genuine consistency framework we're residing in an age of tech however payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which simply blows my mind whenever I I believe
about it to give you an idea of how far there still is to come according to Deloitte just 11 of services state they have Workforce data in real time that's another number that provides me sleep deprived nights and rather frankly the more a business spends on global payroll the less of a picture they see a lack of presence also reaches payroll payments and inability to precisely track these payments can lead to compliance incidents in the last mile of the deal almost half of international services have revealed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of errors are because of time reporting bad HCM information information entry errors inadequately communicated hires and terminations as well as lack management and system setups and after that when you round everything off and the data is delivered to the wrong location the typical cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money all over the world payroll and payments don't run smoothly if they depend on the needed multiple processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles service face when they're making payments to workers or otherwise that's a great question I constantly toss this back and say what is it what does not require to be consisted of right and what does
it need to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the consumer's own in-country account so there's intricacy anywhere you look ideal ultimately building a knowledge base is definitely critical but everywhere you look with payroll payment they resemble incredibly payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely essential and technology is enabling us to type of move forward with that it likewise as well to add to that payroll and finance need to work closer together um with differing Checking account Particulars varying banking requirements and setup processes is definitely necessary that payroll and financing groups work better together than ever um I'm always surprised when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being a growing number of important to contribute to type of the level of complexity there's increasingly more benefits being organ or being used by businesses across the world so again you're simply aiming to add more and more payments to this currently complex landscape so if you kind of got any experience well I'm from your vast experience here and I make sure however have you got any experience in kind of genuine challenges or genuine tough type of pay utilizes to play to pay individuals I think yeah I indicate over the last well yeah a couple of decades I would certainly state that the larger an organization gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are groups feeding details into the next function as it were that's actually handling the payment side of things however you understand in in my opinion and my experience that doesn't always require to be the case you understand long gone are the times where we need to develop extra handoffs while doing sos that we operate in they just make them more prompt they make them less efficient and they do not make them what they require to be in in an era of tech and an era that you understand that we are working in today there is no reason that we are still making this as difficult as it requires to be concurred and appropriately as you said payroll is the single biggest liability that any company has from a cost perspective from an impact point of view on employees it is definitely critical that it's done properly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the greatest destructive effect on individuals's wellness and numerous other elements if people aren't paid uh I've constantly been impressed entering this Market type of the last 5 to ten years is how little thanks the
The payroll group might not have actually been thanked for properly processing payroll throughout a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and people only see when things go wrong. Nevertheless, when things go right, it's seen as simply a regular job. This is how it's viewed externally too. For that reason, it is important to ensure that jobs like Wi-Fi Global and other important matters are done properly. Utilizing the very first International Payments very first payroll payment option is a great preliminary action towards providing a thorough payroll service for staff members worldwide. Standardization, international processes, and lowering the number of tools, platforms, and bank accounts necessary for global payroll are crucial consider accomplishing service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of problems when things do not go as planned. Ultimately, we do not do it for the appreciation.
anyway we know how how crucial a function it is which's why we do it that's why we get on with it and this is why we're talking today about making it as simple as possible for everyone that's involved in those procedures and likewise so think of sorry I'm simply I was simply gon na state picture the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're speaking about numerous thousands potentially Millions picture getting that lots of thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would absolutely be a fascinating job trying to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to look through them and really see what was going on and type of try to get back to everybody so carrying on appearance why do companies select to primary different savings account there are businesses out there doing precisely this for particular countries and I have actually operated in a service or numerous organizations doing precisely that I can say it doesn't always feel effective and it does develop more work I understand we're not purposely doing that we're not developing additional work for anyone where we do not have to and any person that's dealing with that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I believe numerous factors one is it's the standard I think people have got so utilized to we require a new bank account we open an entity and rightly so you require it for payroll functions however there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm individuals have actually adopted and continue to do over years and years passed by to contribute to that individuals have actually taken a look at things like trust accounts and many other methods um to to type of do it so I believe there's a range I think this is a procedure that requires taking a look at it needs altering but ultimately people are very stuck to what they're familiar
with right um modification is a tough thing all of us do not like modification um so I think it's simply sort of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend undoubtedly the benefits of having maintaining several checking account but there's a huge amount of complexity goes with establishing a savings account maintaining it ensuring it can send International transfers guaranteeing it's set up with the ideal user accesses for private individuals so the intricacy is huge however I think the truthful response is modification um people have not been able to change or have not had necessarily the understanding to really make that change into alternate Solutions besides opening a bank account I believe you've struck the nail on the head I think it is knowledge you know and there is an aspect of resistance to change however we have actually constantly done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of moving on and moving into you know what could nearly be determined to be the next Century or two there is a lot to keep track of and this technique does present numerous obstacles um so Johnny might you inform us about those challenges yeah obviously so there's a range right there is so
I just did you switched our Business to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International employees you are worthy of a corner office with a closer parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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